Buying a Las Vegas Home? Use These Tips to Make a Winning Offer

Las Vegas is a hot real estate market. Home prices are up, interest rates are good. Existing homes sell quickly. If you're shopping for Las Vegas homes for sale and find one you love, you probably won't be the only person ready to make an offer.

Our real estate agents know the Las Vegas community. We realize a seller's market can make it difficult to find the right home at the right price. You can still buy the home you want if you Make Them an Offer They Can't Refuse. These buyer tips can help.

Be Financially Ready

An un-refusable offer won't matter if you don't have the creditworthiness to back it up. Before you strike out on a serious house hunt:

• Build a financial cushion.
• Pay down your bills.
• Check your credit reports at annualcreditreport.com.
• Get pre-approved for a mortgage.

Find a Real Estate Agent

Until you've negotiated a home sale, you won't know if your negotiation skills are up to the challenge. Ultimately, your negotiation strategy will remain under your control, but a real estate professional can be your best negotiation asset. They've done it over and over again and they know what to expect.

Research Home Values

When you find a home you like, you can research the market value yourself, but your agent can do it better and faster. Ask for a Comparative Market Analysis, that analyzes listing vs selling prices of comparable homes recently sold in your area. Use the research to guide your bidding process.

Learn More About The Seller

A little information can give you a negotiation edge. Your agent can assist you in finding data that might facilitate your negotiation.

• On the market too long? - Recent statistics show 79.8% of homes listed in Las Vegas sold within 60 days. If the home you want has been on the market a long time, the owner might lower the asking price.
• Relocation pending - When a seller has a moving deadline, they might take your best offer and run.
• Financial problems - A seller who must liquidate assets may accept a lower offer.
• Two mortgages - Sellers become reasonable when they have two mortgages to pay.

Don't Insult The Owner

Whatever you learn about the seller, don't insult them with too low an offer. The resultant bad feelings may get you a sound rejection with no counter demand and no further contact.

Don't Overbid

Don't immediately bid your pre-approval maximum or toss out your best offer. You'll have no money to negotiate in a buyer's competition.

Never offer more than the property value. If the owner accepts your offer, the mortgage company might refuse to finance you.

Woo The Seller

Make yourself memorable. Pull out your best stationery and write a letter to the seller. Talk about your kids, the neighborhood, how you love their home. If you've made a strong offer, that might be the advantage you need.

Sweeten The Pot

A 100% cash offer might motivate a seller to say yes. If you can't pay cash, offer a higher down payment. It will make financing easier and that's a motivation as well.

Just Do It!

Timing is always a critical factor. When you find a home you want, you must be ready to make an offer. No waffling. You must know what you want and be willing to commit.

Wardley Real Estate Can Help

With so many unwritten rules, negotiating a home sale can be complicated. Contact Wardley Real Estate when you're buying or selling a home in Las Vegas. Our professionals can provide the real estate help you need.